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Telehealth & Telemedicine Market worth $417.40 billion by 2030, growing at a CAGR of 21.11% - Exclusive Report by 360iResearch
Telehealth & Telemedicine Market | 360iResearch
The Global Telehealth & Telemedicine Market to grow from USD 109.20 billion in 2023 to USD 417.40 billion by 2030, at a CAGR of 21.11%.
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Telehealth and telemedicine refers to delivering and facilitating health and health-related services, such as medical care, patient education, and self-care through telecommunications and digital communication technologies. Government policy shifts that favor telehealth and digital healthcare infrastructure with supportive reimbursement are significant growth drivers for the telehealth & telemedicine market. The need to reduce healthcare spending is leading to the increased adoption of cost-effective telehealth services. However, inadequate technological infrastructure can limit telehealth and telemedicine access in rural or underserved areas. In addition, the potential for breaches poses risks to patient privacy and limits the use of telehealth and telemedicine solutions. Ongoing innovations in AI, machine learning, and IoT devices for health monitoring are expanding the applicability of telehealth and telemedicine solutions. Furthermore, widespread internet accessibility and the creation of more user-friendly platforms that cater to various patient demographics are anticipated to drive the telehealth & telemedicine market in the coming years.
The Americas represent a highly developing telehealth & telemedicine market owing to technological advancements, robust healthcare IT infrastructure, and supportive government policies. American consumers have displayed a growing preference for convenience and on-demand healthcare services. Telehealth services are rapidly integrating into the public health system, spurred by vast geographic areas and remote populations in the developed economies of the Americas. The European Union exhibits strong growth in telehealth, assisted by supportive policies. Consumer needs revolve around integrating telehealth, personalized care, and data security into existing healthcare systems. Ongoing EU-funded research projects and joint ventures are enhancing the use of telehealth and telemedicine solutions. The telehealth & telemedicine market in the Middle East is gaining traction due to government-led initiatives and a rising number of tech-savvy consumers demanding immediate access to medical consultations. The telehealth market in Africa is nascent compared to other regions, hindered by infrastructural and resource constraints. However, its huge potential lies in addressing access challenges, especially for rural communities. The telehealth & telemedicine market in the APAC is growing, underpinned by government support and technological advancements. Asian consumers are exhibiting a need for more accessible healthcare, with a surge in online health consultations. The development of AI and 5G technologies are among the key focuses in patents, and major investments are shaping a more sophisticated telemedicine ecosystem. Government bodies in emerging economies are promoting telemedicine to enhance home care for the elderly and rural populations. Moreover, with a vast population and uneven healthcare service distribution, Asia-Pacific is investing highly in the telehealth & telemedicine market to bridge this gap.
Market Segmentation & Coverage:
This research report categorizes the Telehealth & Telemedicine Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Component, market is studied across Hardware, Services, and Software. The Hardware is further studied across Endpoints, Network Hardware, and Remote Patient Monitoring Hardware. The Services is further studied across Deployment & Integration, Support & Maintenance, and Training. The Software is further studied across Real-time Telemedicine Software, Remote Patient Assessment and Monitoring Software, Store-and-forward Software for Telemedicine, and Videoconferencing Software. The Hardware commanded largest market share of 54.79% in 2023, followed by Services.
Based on Diagnostic Devices, market is studied across Blood Glucose Meters, Blood Pressure Devices, Digital Otoscopes, Digital Thermometers, EKG Monitors, Pulse Oximeters, Smartwatches, Telemedicine Kiosks, Virtual Stethoscopes, and Wireless Scales. The Blood Pressure Devices commanded largest market share of 17.06% in 2023, followed by Blood Glucose Meters.
Based on End-User, market is studied across Healthcare Facilities and Homecare. The Healthcare Facilities commanded largest market share of 69.01% in 2023, followed by Homecare.
Based on Application, market is studied across Tele-Consulting, Tele-Education, Tele-Monitoring, Tele-Pathology, Tele-Psychiatry, Tele-Radiology, and Tele-Surgery. The Tele-Consulting commanded largest market share of 27.60% in 2023, followed by Tele-Monitoring.
Based on Mode of Delivery, market is studied across On-Cloud and On-Premise. The On-Premise commanded largest market share of 61.56% in 2023, followed by On-Cloud.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 40.33% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Telehealth & Telemedicine Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Telehealth & Telemedicine Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Telehealth & Telemedicine Market, highlighting leading vendors and their innovative profiles. These include Advanced Monitored Caregiving, Inc., Amazon.com, Inc., American Well Corporation, Cigna Healthcare, Cisco Systems, Inc., Doctor On Demand by Included Health, Inc., Doximity, Inc., GE HealthCare Technologies Inc., GlobalMedia Group, LLC, GoodRx, Inc., HealthTap, Inc., Hims & Hers Health, Inc., Honeywell International Inc, iCliniq by Orane Healthcare India Private Limited, International Business Machines Corporation, Iron Bow Healthcare Solutions, Koninklijke Philips N.V., MDLIVE, Inc., Medtronic PLC, Medweb by Nexsys Electronics, Inc., Microsoft Corporation, ORA, Oracle Corporation, PlushCare, Inc. by Accolade, Inc., Practo Technologies Pvt. Ltd., RaiseHand Inc., Sesame, Inc., Siemens Healthineers AG, Teladoc Health, Inc., TeleSpecialists, Tunstall Healthcare Group, Veradigm LLC, Vonage Holdings Corp. by Telefonaktiebolaget LM Ericsson, VSee Lab, Inc., and Zipnosis by Florence Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Telehealth & Telemedicine Market, by Component
7. Telehealth & Telemedicine Market, by Diagnostic Devices
8. Telehealth & Telemedicine Market, by End-User
9. Telehealth & Telemedicine Market, by Application
10. Telehealth & Telemedicine Market, by Mode of Delivery
11. Americas Telehealth & Telemedicine Market
12. Asia-Pacific Telehealth & Telemedicine Market
13. Europe, Middle East & Africa Telehealth & Telemedicine Market
14. Competitive Landscape
15. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Telehealth & Telemedicine Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Telehealth & Telemedicine Market?
3. What is the competitive strategic window for opportunities in the Telehealth & Telemedicine Market?
4. What are the technology trends and regulatory frameworks in the Telehealth & Telemedicine Market?
5. What is the market share of the leading vendors in the Telehealth & Telemedicine Market?
6. What modes and strategic moves are considered suitable for entering the Telehealth & Telemedicine Market?
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